ABU DHABI, Al Etihad Credit Bureau (AECB) has collaborated with the Ministry of Justice to expand its credit registry to include court-imposed legal financial obligations, with the aim of providing lenders with more holistic information about companies and individuals.
The Ministry of Justice is responsible for regulating and supervising the administrative and financial affairs of the nation’s federal court system. The Ministry of Justice also handles all other legal matters in the various federal ministries and prepares and implements the main laws governing civil and commercial disputes.
Marwan Ahmad Lutfi, CEO of AECB, said, “AECB’s credit registry, now expanded to include court imposed financial obligations, is the result of a two-year effort in which the Bureau worked closely with the UAE Ministry of Justice. At AECB, we believe this expansion of data and analysis will deepen the scope of our credit reports and provide a comprehensive view of an individual or company’s creditworthiness. Most importantly, it will enable lenders to better assess credit risks, such as the borrower’s ability to meet credit obligations or make future payments.”
Source: Emirates News Agency